What the company or idea is
Bayer was a German dyestuffs partnership founded in 1863 by Friedrich Bayer (a salesman) and Johann Friedrich Weskott (a dyer), registered as Friedr Bayer et comp., which evolved into a global chemical and pharmaceutical enterprise.
How it actually makes money
Bayer made money by manufacturing and selling synthetic dyes, then pharmaceuticals and industrial chemicals — first fuchsine and alizarin, then Aspirin, heroin, Prontosil, polyurethanes, and polycarbonates.
What works
Clear division of labour (Bayer handled commerce, Weskott technical operations), iterative dye innovation (aniline, fuchsine, alizarin), and trademark discipline (Aspirin in 1899, Bayer Cross in 1904) created defensible commercial advantage.
What does not
Its early environmental and safety standards were relative, not absolute: arsenic contamination from fuchsine forced relocation twice, and its later merger into IG Farben erased any claim to ethical continuity.
What to take from it
That a company can build durable brand equity (e.g., the Bayer Cross stamped on every aspirin tablet from 1910) while operating within exploitative industrial systems — and that such equity survives even after moral rupture and asset seizure.
Is it worth your time
Yes — as a case study in how technical innovation, branding, and vertical integration in chemistry enabled rapid industrial scaling — but only if you treat its self-narrative with scepticism and separate pre-1925 operations from IG Farben’s crimes.